UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB



QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED

SEPTEMBER 30, 2001



Commission file number 000-26557



Stemcell Global Research, Inc.

a Nevada corporation

9978 Washington Street

Camp Dennison, Ohio 45111

(513) 831-8077



IRS Tax ID #: 88-0407473







PART I: FINANCIAL INFORMATION

Item 1. Financial Statements:



JEROME J. DONNELLON

CERTIFIED PUBLIC
ACCOUNTANT

85 TWIN LAKES DRIVE

FAIRFIELD, OHIO 45014



October 30, 2001



TO WHOM IT MAY CONCERN:



The firm of Jerome J.
Donnellon, Cetified Public Accountant, consents to the inclusion of my report of
September 30, 2001 on the Financial Statements of Stemcell GLobal Research,
Inc., in any filing that are necessary now or in the near future to be filed
with the U.S. Securities and Exchange Commission.





Cordially,







Jerome J. Donnellon

Ohio Licence ID
#4L-3-3114

















Stemcell
Global Research, Inc.

(A
Development Stage Company)



Financial
Statements

September
30, 2001















TABLE
OF CONTENTS





PAGE

INDEPENDENT
AUDITORS' REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1



BALANCE
SHEET - ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 . . . . 2



BALANCE
SHEET - LIABILITIES AND SHAREHOLDER'S EQUITY . . . . . . 3



STATEMENT
OF OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 . 4



STATEMENT
OF CASH FLOWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 . 5



NOTES TO
FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6































JEROME
J. DONNELLON

CERTIFIED
PUBLIC ACCOUNTANT

85 TWIN
LAKES DRIVE

FAIRFIELD,
OHIO 45014

(513)
874-3055





INDEPENDENT
AUDITOR'S REPORT



Board of
Trustees                                                                                                   
October 30, 2001

Stemcell
Global Research, Inc. (The Company)

Las
Vegas, Nevada 89102



I have
reviewed the Balance Sheet of Stemcell Global Research, Inc., as of September
30, 2001 and related statements of income, retained earnings, and cash flows in
accordance with Statements on Standards for Accounting and Review Services
issued by the American Institute of Certified Public Accountants.  All
information included in these financial statements is the representation of the
management of Stemcell Global Research, Inc.



A review
consists princiaplly of inquiries of company personnel and analytical procedures
applied to financial date.  It is substantially less in scope than an audit
in accordance with generally accepted auditing standards, the objective of which
is the expression of an opinion regarding the financial statements taken as a
whole.  Accordingly, I do not express such an opinion.



Based
upon my review, I am not aware of any material modifications that should be made
to the accompanying financial statements in order for them to be in conformity
with generally accepted accounting principals.  My responsibility is to
express an opinion on these financial statements based on my review.







Jerome J.
Donnellon

Ohio
License ID#4L-3-3114





-1-























Stemcell
Global Research, Inc.

(A
Development Stage Company)

Balance
Sheet

as of

September
30, 2001







ASSETS









|ASSETS                       | Sept. 30, 2001 |   | Sept. 30, 2000
|---------------------------- | -------------- | ----- | --------------
|                             |                |       |               
|CURRENT ASSETS               |                |       |               
|Cash                         | 1,978.00       |       | 163,673.00    
|Money Market Account         | -0-            |       | 5,931.00      
|                             |                |       |               
|Total Current Assets         | 1,978.00       |       | 169,604.00    
|Loan Receivable              | 880,000.00     |       | -0-           
|Accrued Interest             | 97,470.00      |       | -0-           
|PROPERTY AND EQUIPMENT       |                |       |               
|Property and Equipment       | -0-            |       | -0-           
|                             |                |       |               
|Total Property and Equipment | -0-            |       | -0-           
|                             |                |       |               
|OTHER ASSETS                 |                |       |               
|Patent Rights/Sunspots       |                |       | 750,000.00    
|                             |                |       |               
|                             |                |       |               
|Total Other Assets           |                |       | 750,000.00    
|                             |                |       |               
|                             |                |       |               
|                             |                |       |               
|                             |                |       |               
|                             |                |       |               
|TOTAL ASSETS                 | 979,448.00     |       | 919,604.00    
|                             |                |       |               



See Accompanying
Notes to Financial Statements



-2-

Stemcell
Global Research, Inc.

(A
Development Stage Company)
708:

Balance
Sheet
711:

As
Of

September
30, 2001



Liabilities
& Equity
722:



|                                        | Sept. 30, 2001 |  | Sept. 30, 2000
|--------------------------------------- | -------------- |  | --------------
|CURRENT LIABILITIES                     |                |  |               
|Accounts Payable                        | -0-            |  | -0-           
|                                        |                |  |               
|Total Current Liabilities               | -0-            |  | -0-           
|                                        |                |  |               
|OTHER LIABILITIES                       |                |  |               
|Convertible Notes Payable               | 1,188,228.00   |  | 1,124,728.00  
|Accrued Interest Payable                | 177,140.00     |  | 53,506.00     
|                                        |                |  |               
|                                        |                |  |               
|Total Other Liabilities                 | 1,365,368.00   |  | 1,178,234.00  
|                                        |                |  |               
|Total Liabilities                       | 1,365,368.00   |  | 1,178,234.00  
|                                        |                |  |               
|EQUITY                                  |                |  |               
|                                        |                |  |               
|Common Stock, $0.001 par value,         |                |  |               
|authorized 20,000,000 shares;           |                |  |               
|issued and outstanding at June 30, 2000 |                |  |               
|common shares:                          | 1,924.00       |  | 1,924.00      
|                                        |                |  |               
|Additional Paid in Capital              | 143,839.00     |  | 143,839.00    
|                                        |                |  |               
|Retained Earnings                       |                |  |               
|(Deficit accumulated during             |                |  |               
|development stage)                      | (531,68.00)    |  | (404,393.00)  
|                                        |                |  |               
|Total Stockholder's Equity              | (385,920.00)   |  | (258,630.00)  
|                                        |                |  |               
|TOTAL LIABILITIES & OWNER'S EQUITY      | 979,448.00     |  | 949,604.00    
|                                        |                |  |               

See Accompanying
Notes to Financial Statements

-3-



Stemcell
Global Research, Inc.

(A
Development Company)

STATEMENT
OF OPERATIONS

FOR
PERIOD

Sept.
30, 2000 (unaudited) and

Sept.
30, 2001 (unaudited)



|                                      | Sept. 30,
      2001 |  | Sept. 30,
      2000
|------------------------------------- | -------------------- |  | --------------------
|                                      | (unaudited)          |  | (unaudited)         
|REVENUE                               |                      |  |                     
|Revenues                              | -0-                  |  | -0-                 
|Interest Income                       | 218.00               |  | 637.00              
|                                      |                      |  |                     
|Total Revenue                         | 218.00               |  | 637.00              
|                                      |                      |  |                     
|COSTS AND EXPENSES                    |                      |  |                     
|Selling, General and Administrative   | 71,808.00            |  | 195,258.00          
|                                      |                      |  |                     
|Total Costs and Expenses              | 71,808.00            |  | 195,258.00          
|                                      |                      |  |                     
|Net income or Loss before
      taxes | (71,590.00)          |  | (194,321.00)        
|Income Tax Expense                    | -0-                  |  | -0-                 
|                                      |                      |  |                     
|                                      |                      |  |                     
|Net Ordinary Income or
      Loss     | (71,590.00)          |  | (194,321.00)        
|                                      |                      |  |                     
|Weighted Average                      |                      |  |                     
|number of common shares               |                      |  |                     
|outstanding                           | 1,890,361            |  | 1,890,361           
|                                      |                      |  |                     
|Basic Net Loss Per Share              | (0.04)               |  | (0.10)              



See Accompanying
Notes to Financial Statements



-4-

Stemcell
Global Research, Inc.

(A
Development Stage Company)

STATEMENT
OF CASH FLOWS
1759:

FOR
PERIOD ENDING
1762:

September
30, 2001



|CASH FLOWS FROM OPERATING ACITIVITIES          
|-----------------------------------------------
|                                               
|                                               
|Net (Loss) from Operations                     
|Adjustments to reconcile net income            
|to net cash provided                           
|Increase in interest Payable                   
|Increase Note Payable                          
|Increase interest receivable                   
|                                               
|Net Cash provided by                           
|Operating Activities                           
|                                               
|CASH FLOWS FROM INVESTING                      
|ACITIVITIES                                    
|Patent Rights Purchased                        
|                                               
|Net Cash used
      by investing activities    
|                                               
|CASH FLOWS FROM FINANCING                      
|ACTIVITIES                                     
|                                               
|Cash Received from convertible note payable    
|Repayment on notes payable                     
|                                               
|Net cash provided by
      financing activities
|Balance at beginning of
      period           
|Net increase (decrease) in
      cash          
|Balance at the end of
      period             



See Accompanying
Notes to Financial Statements



-5-

Stemcell
Global Research, Inc.

(A
Development Stage Company)
2257:

Notes to Financial
Statements



## NOTE 1- HISTORY AND ORGANIZATION OF THE COMPANY

2266:

The Company was organized January 20, 1999 (Date of Inception) under the
laws of the State of Nevada, as Stemcell Global Research, Inc. (The company) has
no operations and in accordance with SFAS #7, the Company is considered a
development stage company.    The
Company has 20,000,000 shares of $0.001 par value stock authorized.



On January 21, 1999, the Company issued 1,651,125 shares of its $0.001
par value Common Stock for cash of $1,651.13 and cancellation of a $7,500.00
loan from a founding shareholder for corporate consulting costs.



On March 9, 1999, the Company completed a public offering that was exempt
from federal registration pursuant to Regulation D, Rule 504 of the Securities
Act of 1933 as amended, and exempt from state registration pursuant to various
state securities transaction exemptions.  The
Company sold 273,225 shares of Common Stock at a price of $0.50 per share for a
total amount raised of $136,612.50.    The
Company received cash in the amount of $93,535.00, a note receivable in the
amount of $5,000.00 and exchange for services rendered in the amount of
$38,062.50.
2293:



On March 29, 2000, a convertible promissory note was signed with
Atlantique Capital Group, Inc. in the amount of $163,000.00 at a per annum rate
of 12%.



There have been no other issuances of equity or Common Stock.



NOTE 2 -
ACCOUNTING POLICIES AND PROCEDURES

2312:

Accounting policies and procedures have not been determined except as
follows:

1.     
The Company uses the accrual method of accounting.

2.:
     
2323:   The cost of organization was expensed when incurred.
2324:

3.
     
Basic earnings per share is computed using the weighted average number
of shares of common stock outstanding.  Diluted
earnings per share were not included as the inclusion of convertible notes would
be anti-dilutive and all contingencies for conversion have not occurred.

4.
2333:         
The company has not yet adopted any policy regarding payment of
dividends.  No dividends have been
paid since inception.

5.
     
The cost of equipment is depreciated over the estimated useful life of
the equipment utilizing the straight line method of depreciation. 
2342:    There was no depreciation during this operating period. 
There was no equipment purchased through March 31, 2001.

6.
>     
The company experienced losses for its operating period. 
The Company will review its need for a provision for federal income tax
after each operating

7.
2352:         
2353:     period for which a
statement of operations is issued.  The
net operating losses will begin to expire in the year 2006.

8.
     
The Company has adopted December 31st as its fiscal year end.

9.
     
The Company records its inventory at cost.
    There was no inventory through March 31, 2001.

10.
 The preparation of
financial statements in conformity with generally accepted accounting principals
requires that management make estimates and assumptions which affect the
reported amounts of assets and liabilities as at the date of the financial
statements and revenues and expenses for the period reported. 
Actual results may differ from these estimates.

11.
   The
Company will review its long-lived assets and certain identifiable intangible
assets for impairment at the end of each operating period reported. 
The Company will report these assets at recoverable costs.

12.
  Patent
rights are amortized over 60 months in accordance with Generally Accepted
Accounting Principals and the Internal Revenue Code.



NOTE 3 - GOING
CONCERN



The
Company's financial statements are prepared using the generally accepted
accounting principals applicable to the going concern, which contemplates the
realization of assets and liquidation of liabilities in the normal course of
business.    However, the Company has
not generated any revenues from its planned principal operation though March 31,
2001. Without realization of additional capital, it would be unlikely for the
Company to continue as a going concern.    It
is management's plan to secure additional capital through loans and or private
placements.



NOTE 4- RELATED
PARTY TRANSACTION



2411:    Office services are provided without charge by a director. 
Such costs are immaterial to the financial statement and, accordingly,
have not been reflected therein.  The
officer and directors of the Company are involved in other business activities
and may, in the future, become involved in other business opportunities. 
If a specific business opportunity becomes available, such persons may
face a conflict in selecting between the company and their other business
interests.    The Company has not
formulated a policy for the resolution of such conflicts.



NOTE 5 - WARRANTS
AND OPTIONS



There are no warrants or options outstanding to acquire any additional
shares of common stock.



NOTE 6 - LONG
TERM COMMITMENTS



he Company neither owns nor leases any real personal property.

2443:









NOTE 7 -
CONVERTIBLE NOTES PAYABLE



2462:    The Company has issued $5,000 in convertible notes payable at 12% per
annum.    The notes have a ninety day
term which may be automatically renewed by the Company.
2465:        The Company does have an interest rate and they are
convertible at the holder's option at the price of $.50 per share, the fair
market value of the Company's 504 offering, with demand registration rights
and first right of refusal to sell these shares into the Company's first
secondary public offering.    The
notes are not with a related party.
2471:



NOTE 8 - NOTES
RECEIVABLE



The company has advanced $880,000 to Edge Medical for the purchase of
Sunspot Technology as a note receivable at 12% per annum due 12-01-01.

Item 2. Management's Discussion and
Analysis:

The information required by this
Item is included in Item 1 above.



SIGNATURES



In accordance with the requirements
of the Exchange Act, the registrant caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.





STEMCELL GLOBAL RESEARCH, INC.

(Registrant)

Date: September 14, 2001

By:
2511:       /s/ David Leytze

David Leytze

Director, Vice President and duly
authorized officer.